Alastriss Posted September 23, 2007 Report Share Posted September 23, 2007 I did a fair bit of reading, and it seems that financing US schools seems pretty tough. I know itll be around 75k/year (thank god for parity of US and CDN dollar!) but how do people do it? I got the cosigner loans. I have relatives in the states and cosigning seems to be a pretty big responsibility. RBC lines of credit also state that they are for canadian medical schools, not american medical schools, even though people on this forum have said they received RBC lines of credit. Any comments on this? Link to comment Share on other sites More sharing options...
KennethToronto Posted September 23, 2007 Report Share Posted September 23, 2007 I posted a similar Q: http://www.premed101.com/forums/showthread.php?t=23368 I haven't done as extensive research as you have (busy writing secondaries and other things), but speaking with my friend who is funding his Carrib med degree through loans, it seems like a combination of OSAP (I hear max $10K - which is great because that's interest free during your studies) + a $150K LOC (He was able to get a RBC LOC so it seems like it would work for US) + personal savings/contribution from relatives & parents to cover the remainder (or maybe one more LOC ughh). I'm not basing it on $75k though (I guess that's Wayne State?)...most budgets I've seen from schools suggest $60-$65k. Perhaps some people currently enrolled in US schools could chip in. Link to comment Share on other sites More sharing options...
xylem29 Posted September 24, 2007 Report Share Posted September 24, 2007 yep, RBC will give u the LOC for US schools. i personally verified this. Link to comment Share on other sites More sharing options...
xylem29 Posted September 24, 2007 Report Share Posted September 24, 2007 I posted a similar Q:http://www.premed101.com/forums/showthread.php?t=23368 I haven't done as extensive research as you have (busy writing secondaries and other things), but speaking with my friend who is funding his Carrib med degree through loans, it seems like a combination of OSAP (I hear max $10K - which is great because that's interest free during your studies) + a $150K LOC (He was able to get a RBC LOC so it seems like it would work for US) + personal savings/contribution from relatives & parents to cover the remainder (or maybe one more LOC ughh). I'm not basing it on $75k though (I guess that's Wayne State?)...most budgets I've seen from schools suggest $60-$65k. Perhaps some people currently enrolled in US schools could chip in. last year it was 72k, this year it's 80k...insane. if it keeps going up like this.... Link to comment Share on other sites More sharing options...
THX Posted September 24, 2007 Report Share Posted September 24, 2007 The cost of Wayne State is pretty ridiculous. I would love to go there, but I don't want to spend more than 250k. Beyond 250k the interest can become unmanageable IMO. Link to comment Share on other sites More sharing options...
KennethToronto Posted September 24, 2007 Report Share Posted September 24, 2007 For that very reason, I didn't bother to fill out my Wayne State secondary. The tuition doesn't justify it. Link to comment Share on other sites More sharing options...
Alastriss Posted September 24, 2007 Author Report Share Posted September 24, 2007 Why is the tuition rising? is it because of the decline in the USD value? Link to comment Share on other sites More sharing options...
a41 Posted September 24, 2007 Report Share Posted September 24, 2007 I think in the case of Wayne there was a tax cut in Michigan which is affecting the funding that the state schools are getting. Link to comment Share on other sites More sharing options...
xylem29 Posted September 25, 2007 Report Share Posted September 25, 2007 I personally believe that Wayne, due to the size of its class (the largest in NA I think, at ~320), probably has the largest number of Canadian students PLUS OOS Americans and the school takes advantage of us. I haven't done this myself, but someone should go and check out the OOS/Intl cost of attendance at the other michigan schools, particularly michigan state (since it accepts canadians as well). I have a hunch it's not a state thing but a Wayne thing. Link to comment Share on other sites More sharing options...
Jochi1543 Posted September 25, 2007 Report Share Posted September 25, 2007 I personally believe that Wayne, due to the size of its class (the largest in NA I think, at ~320), probably has the largest number of Canadian students PLUS OOS Americans and the school takes advantage of us. I haven't done this myself, but someone should go and check out the OOS/Intl cost of attendance at the other michigan schools, particularly michigan state (since it accepts canadians as well). I have a hunch it's not a state thing but a Wayne thing. Looking at 2005-2006 numbers from US News: Wayne State IS 23,314, OOS 46,766. MSU IS 23,700 OOS 51,600. So MSU is actually higher. Link to comment Share on other sites More sharing options...
paulchemguy Posted September 25, 2007 Report Share Posted September 25, 2007 i know us bank loan all require a US co-signer. but which canadian bank will give loans for us med without a co-signer? and how much would i be able to get? i'd appreciate your reply. thanks Link to comment Share on other sites More sharing options...
Jochi1543 Posted September 25, 2007 Report Share Posted September 25, 2007 CANHELP (I think it's canhelp.ca, but not sure) gives you something like 40K a year w/o a cosigner if you are a Canadian citizen going to study in the US. Link to comment Share on other sites More sharing options...
Alastriss Posted September 25, 2007 Author Report Share Posted September 25, 2007 And even more if you have a cosigner whose a citizen in US/canada (not sure about PR) the catch is of course the high interest rate Link to comment Share on other sites More sharing options...
xylem29 Posted September 26, 2007 Report Share Posted September 26, 2007 Looking at 2005-2006 numbers from US News:Wayne State IS 23,314, OOS 46,766. MSU IS 23,700 OOS 51,600. So MSU is actually higher. damn, so it is a state thing Link to comment Share on other sites More sharing options...
Alastriss Posted October 7, 2007 Author Report Share Posted October 7, 2007 bump bump and bump! CDN dollar is now PWNING the USD so i thought it would be appropriate to post in this thread. Link to comment Share on other sites More sharing options...
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